Icelandic-Linked CDOs See Rating Cuts

20 Nov 2008

Ratings on 10 synthetic collateralized debt obligations have been chopped for referencing at least one of Iceland’s troubled banks.

--Cristina Pittelli

Ratings on 10 synthetic collateralized debt obligations have been chopped for referencing at least one of Iceland’s troubled banks. Recent credit default swap auctions for the senior obligations of Landsbanki, Kaupthing and Glitnir returned particularly low results, between 1.25% to 6.625%, and recovery prospects for the ...

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